8 Years Later - Still Not Winning | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

share a system with a winning track record over many years 10 replies

to go long at undervalue or not yet overvalue? Which has a higher probability winning 1 reply

UK and US Retail Sales later 37 replies

Philly Fed later - trade or not to trade? 10 replies

A few months later :) 1 reply

Attachments: 8 Years Later - Still Not Winning
Exit Attachments

8 Years Later - Still Not Winning

  • #181
  • Edited 8:17am Nov 28, 2017 5:18am | Edited 8:17am
Quoting lento123
{quote} Ciao limprobable, Good idea, but i think it is difficult for a beginner to create his/her own indicator / system without guidance of other great traders or getting and testing available system out there . A friend told me to learn coding ... i find it is a good idea, but with my low IQ it is difficult for me to become a good coder ... at least i will need much more time than others ... . From your post, I think you mean of focus on a system ? Let's say we have a good indicator, but just one indicator may be not enough to know...
Hello Lento123,

My post was for a trader with 8 years of experience.

For a total beginner, i will not say the same things. If i take the same example as writer, a total beginner must learn his alpabet first. Then read books (technical and psychological), then learn to write and then become a writer. A very long work. It take years. So you must be passionate.

Both technical and psychological are the keys of succes. But there is a lot of technical view of market: you got indicators, you got PA, order book etc. And inside indicators, PA etc. you must find your niche, the niche that make you an expert.

Every trader like every writer has his own style, technical and history.

(PS: and if like Neesh24 after 8 years you still dont have found your style. With the sum of informations accumulate in 8 years, you can be lost. Thats why i said to him to forget all he have learn, it will be in his inconscious anyway, and starting again only with his own view, with his own truths. I think every trader or writer have some experiences of doubts. It's normal. Too much informations can kill information. There is so much interaction that you can't dominate all, you are overwhelm. Restart a blank page, your blank page could be a solution).

Which you the best.
Bottomless wonders spring from simple rules, which are repeated without end
  • #182
  • Nov 28, 2017 5:46am Nov 28, 2017 5:46am
Quoting neesh24
STILL NOT WINNING.

I wouldnt worry about it. Just keep trading and it may come to you. So you never know.
  • #183
  • Nov 28, 2017 9:26am Nov 28, 2017 9:26am
Quoting limprobable
{quote} Hello Lento123, My post was for a trader with 8 years of experience. For a total beginner, i will not say the same things. If i take the same example as writer, a total beginner must learn his alpabet first. Then read books (technical and psychological), then learn to write and then become a writer. A very long work. It take years. So you must be passionate. Both technical and psychological are the keys of succes. But there is a lot of technical view of market: you got indicators, you got PA, order book etc. And inside indicators, PA etc....
Thanks limprobable,
so there is still a hope for a beginner, i am happy that i still have more than seven years to improve my self, i hope it is an enough time for me
One simple question: i hear about PA so many times, but can not really understand it. Is it about information given by the candle stick (example: High, Low, Open, Close price of a candle , available in each time frame from M1 to MN1 of MT4 platform) ?
  • #184
  • Edited 11:48am Nov 28, 2017 11:31am | Edited 11:48am
Quoting lento123
{quote} One simple question: i hear about PA so many times, but can not really understand it. Is it about information given by the candle stick (example: High, Low, Open, Close price of a candle , available in each time frame from M1 to MN1 of MT4 platform) ?
This is not a simple question

There are so many definition of PA. It diverges from trader to trader. I will give my own definition, like i see PA but it's only my point of view (some other traders can be not agree with me):

PA = price action is the action of price (whhhaaaaaa ). So anything that influence the price to your perspective: it could be one candle (OHCL), as you said, it can be one particular candle (doji, engulfing etc), it can be action-reaction at certain level : big number, past prices, resistance and support, it can be double top, bottom and any figure etc. It can be diagonal or channel, It can be anything where price have, according to you, an expected action or reaction. As a trader, it is your job to define the probabilities of any expected reaction.
For example, some traders will only use engulfing candle, some others double top etc and will become expert in this particular PA.

For the use of indicators i know one profesional trader that used only bollinger band (custom one). I know another trader that only use bollinger bands too (not custom one this time) in a total differrent way, give him differents signals, and both are winning.

You will read many times : my trading is the key to win. Do this is the key to win. Do that is the key to loose. You will read winner traders that develop lots of big certitudes and big theories on what happend (just because they are winner and think they have understand everything).
I am not one of them. My certitude is that there is as much winning technique as winning trader. But find yours could be a very long and difficult adventure.
Bottomless wonders spring from simple rules, which are repeated without end
  • #185
  • Nov 28, 2017 12:11pm Nov 28, 2017 12:11pm
Quoting lento123
{quote} Thanks limprobable, so there is still a hope for a beginner, i am happy that i still have more than seven years to improve my self, i hope it is an enough time for me One simple question: i hear about PA so many times, but can not really understand it. Is it about information given by the candle stick (example: High, Low, Open, Close price of a candle , available in each time frame from M1 to MN1 of MT4 platform) ?
Basically, price action is the movement of the price itself.

Inside that movement we have a set of several candles that form patterns, like for example head and shoulders,
or individual candles that also form patterns, like for example doji .
POW!
  • #186
  • Nov 28, 2017 9:28pm Nov 28, 2017 9:28pm
Quoting limprobable
{quote} ... For the use of indicators i know one profesional trader that used only bollinger band (custom one). I know another trader that only use bollinger bands too (not custom one this time) in a total differrent way, give him differents signals, and both are winning. You will read many times : my trading is the key to win. Do this is the key to win. Do that is the key to loose. You will read winner traders that develop lots of big certitudes and big theories on what happend (just because they are winner and think they have...
Thank you very much limprobable , now i must Flip the way i think. Candle stick alone is actually an indicator too (optionally we can add some Lines to it), and these can give us profit if we know how to "see" it. I remember now a great trader once said : it is not only the indicator that make a trader success, but how a trader can use it properly ... If a same system is given to 10 peoples, may be just 2 or 3 of them can get profit/success from it. The result (good/bad) is mostly depend on the trader, not on the system/indicator it self. Thanks, you have opened my eyes ...
Attached Image
  • #187
  • Nov 29, 2017 11:49pm Nov 29, 2017 11:49pm
Quoting timos
{quote} Good catch. It could be a well staged scam by the broker to trick traders deposit with them {image} Edit: The more I dig,the more I laugh Look at this guys, almost 1 Billion percent ROI with 0.29% DD {image} With $1000 account he will own the world at that pace...
I contacted FXGiants about these accounts, apparently they are not real live accounts, they are test accounts.
  • #188
  • Dec 1, 2017 8:28am Dec 1, 2017 8:28am
Quoting neesh24
STILL NOT WINNING.

sir most of the person's her claim to be following good strategy why don't you you try it.

I can't say any thing about their strategy since i came to know about forex trading for the past three months only,

but your comment made me think twice about entering trading as full-fledged job for living.

Yet my final decision is to give it a try with some demo accounts and then enter with minimum real account.
  • #189
  • Dec 6, 2017 7:32am Dec 6, 2017 7:32am
Dont give up. If those loses just because of your skill, so it will come later and you definitely will earn. But if you are not profitable due to the another factors (e.g. bad broker), so you should analyze it and change.
  • #190
  • Dec 6, 2017 7:51am Dec 6, 2017 7:51am
there is no 'not giving up', or 'I can't do it so I give up'....
Either you Know about money management or not
Fact is: Most people moan because they just have too little money to trade a strategy, then go on big leverage, and one time win, three times loose.

You must know: Trading is just something about TIMING, my friend.
If a silly guy sits in front of a trend, he will win.
If an intelligent guy is sitting in front of an unpredictive range, he will lose.

So if you cannot handle timing, then get yourself some good ea's.
Only possibility.
Check page 1 for all infos...
  • #191
  • Dec 6, 2017 10:04am Dec 6, 2017 10:04am
Quoting AndrewBa-
there is no 'not giving up', or 'I can't do it so I give up'.... Either you Know about money management or not Fact is: Most people moan because they just have too little money to trade a strategy, then go on big leverage, and one time win, three times loose. You must know: Trading is just something about TIMING, my friend. If a silly guy sits in front of a trend, he will win. If an intelligent guy is sitting in front of an unpredictive range, he will lose. So if you cannot handle timing, then get yourself some good ea's. Only possibility.
Can you elaborate how much money one can have to do so...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -299
  • #192
  • Dec 6, 2017 10:31am Dec 6, 2017 10:31am
8 years later - still not winning.

So you are in good company here on FF and share the fate of 99.99999% of all retail traders after 8 years.
Adress your gambling addiction and dedicate your precious time to something productive.

Good luck. Hudi
  • #193
  • Dec 6, 2017 11:55am Dec 6, 2017 11:55am
Quoting HudithePfupf
8 years later - still not winning. So you are in good company here on FF and share the fate of 99.99999% of all retail traders after 8 years. Adress your gambling addiction and dedicate your precious time to something productive. Good luck. Hudi
Well, now we know that your '8' key works, as well as the '9'.
  • #194
  • Dec 6, 2017 5:12pm Dec 6, 2017 5:12pm
Forex is a rigged market. It's good you finally realized that and won't be throwing your money away chasing rainbows.
  • #195
  • Dec 6, 2017 10:12pm Dec 6, 2017 10:12pm
12years does not mean anything imo....its like saying because you spend time attending all school and class activities you have to pass all S.A.T........Trading is about implementation,execution,discipline and patience.Most traders wast their time learning trash for years.95% of all traders are losers and 5% out of this losers basically teach other traders how to trade lol...The good thing is you have the passion,if not you wont still be following it after 12years.You just have to redirect you focus and learn from the pros and abandon all get rich schemes..It took me 2years to be come a profitable trader.My secret BOOKS--BOOKS and BOOKS.from psychology books to money management to position sizing to technical analysis to fundamental analysis......basically everything i get hands on.After just 1year i could phish out what was useless and useful...IMO obsession is the key to victory.Dont give up,there is always light at the end of the tunnel.
  • #196
  • Dec 7, 2017 3:55am Dec 7, 2017 3:55am
Quoting donkush
12years does not mean anything imo....its like saying because you spend time attending all school and class activities you have to pass all S.A.T........Trading is about implementation,execution,discipline and patience.Most traders wast their time learning trash for years.95% of all traders are losers and 5% out of this losers basically teach other traders how to trade lol...The good thing is you have the passion,if not you wont still be following it after 12years.You just have to redirect you focus and learn from the pros and abandon all get rich...
Find a suitable resource and a source for studying forex is quite difficult, really, most oten, teachers are those who do not know how to trade.
Knowledge is very important, but only from a reliable source.
Advice to the author:
You may want to find the active trader, which can show real results and who can teach you for a reward.
If you are confident in your knowledge, then in this case, keep looking and trying.
  • #197
  • Dec 7, 2017 3:03pm Dec 7, 2017 3:03pm
You only have to be patient and passionate about trading. I hope you're winning now
  • #198
  • Dec 7, 2017 3:32pm Dec 7, 2017 3:32pm
It's a new game, new trade even after you achieve consistency. Profitability will usually happen as soon as you begin to control your emotions. When you don't let losses alter your trade plan and goals. Every year that goes by, as long as you're learning, especially from mistakes will only make you a better trader. Keep a log of your trades and systems. Start narrowing down what works better for you, short term, swing trading , longer time frame etc. Trading will expose all of your weaknesses,, don't get discouraged with the losses, once you can accept them, the wins will be that more gratifying . Good luck, and keep at it
  • #199
  • Dec 8, 2017 1:07am Dec 8, 2017 1:07am
Quoting fxmetadroid
It's a new game, new trade even after you achieve consistency. Profitability will usually happen as soon as you begin to control your emotions. When you don't let losses alter your trade plan and goals. Every year that goes by, as long as you're learning, especially from mistakes will only make you a better trader. Keep a log of your trades and systems. Start narrowing down what works better for you, short term, swing trading , longer time frame etc. Trading will expose all of your weaknesses,, don't get discouraged with the losses, once you can...
Not a mistake, I quoted my own post because every time I read it to myself it reminds me of a true story, true trade that happened to me over 6-7 years ago. To keep a long story and long ordeal short, this was a time when the US Dollar was weak across the board. The Euro, Cable, Canadian, it was clear during that time that being Long the USD was against the trend.

I had a live account over $4000. My broker at the time gave me a generous bonus of $400 at the time, and I really got the bonus and was feeling really good, I had $400 to give. I shorted the EUR/USD with a few tiny(and I mean tiny) trades. I'm talking micro lots, not even .1 , it was like 2000 , 4000 micro units. Hmmm, I thought what harm could that do to a $4K account? At the time I religiously followed a system(that many follow today) listened to all the gurus and talking heads that said the economy was going to hell in a hand basket. I was thinking , if they are correct, then like 2008, the USD should bounce, and like it always does during crashes, rises in value very quickly.

I had a stop loss on the small trades, but kept changing them. Justifying it with the trading system, and putting my faith in the gurus and trading prophets that I blindly followed like an idiot. Before I knew it that $4k account was down to $2K $2 efffing K with just micro lots!!!! So much for not over levering.. I remember getting the metatrader statements from my broker every afternoon and dreading to have to look at it. It would ruin my day and it made me feel like a loser. I had been trading over 7 years already, I really thought I wouldn't make these types of mistakes, yet I did.

What saved me was at the time was that accounts had over 100:1 leverage . A 50:1 account and I would have prolly got margin called, also the other real biggie that saved me was I was able to hedge the account. I added a few Long EUR/USD trades, something I couldn't do today being that I trade from the US with an American broker. It would have never come to this had I just kept my stop, and just admit early I was on the wrong side of the trade.

Anyways, the USD recovered and shot back up quickly. Somehow some way, I came back from the pits of trading hell and got the account back over $5K, including keeping the bonus that my broker gave me. Today , every time i mess up, every time I'm looking at even a -20% drawdown, I think back to that ordeal. This is what I mean when I say Forex trading will expose your weaknesses. It was only after that, that I really started to become more profitable. I learned more from this mistake than anything else I've ever done in trading. I will to this day still admit to myself this was a losing trade, even though I made a big gain. I was not good, just lucky. And luck is not how you want to trade. Consistency, whether you're hitting a baseball over .300, a tennis ball or trading should be part of your trading methodology. That consistency starts with discipline. If you're not winning today, but you're learning these things, it's lessons well learned. Don't wait until you open a big account until you learn these important lessons. Good luck, but not too lucky
  • #200
  • Edited 3:13pm Dec 8, 2017 9:44am | Edited 3:13pm
Quoting hanover
{quote} Well, now we know that your '8' key works, as well as the '9'.
Exactly....good to see you still catch the rabbit after more than 7800 posts.

Now please tell me honestly whether your endavours in CFD retail forex trading over the last 8 years where worth the effort and the time spent. Where they?

By the way, do you know a source of unfiltered forex broker retail account statistics data over let's say 5 years? Even regulators aren't able to deliver such information, it's guarded like a holy grail.... ;-)

I like, respect and sometimes learn from your contributions, but that doesn't mean we have to be on the same page on all topics.
0 traders viewing now